Is the Budget's bite going to be rather less painful than its bark?

The chancellor’s speech at the Labour Party conference was an important and clear change in tone from the government on the economy.Just three weeks ago the PM warned of a “painful Budget”.But in Liverpool, Rachel Reeves said: “My optimism for Britain burns brighter than ever, my ambition knows no limit."The fragile British consumer might not quite be ready, after years of rolling inflationary crises, for tough…